CMHC MLI Flex Financing, Vancouver, BC                     $23,563,000                         Funded: Apr 20, 2021
An 84% LTC CMHC MLI Flex construction loan for this mixed use rental development in East Vancouver. The subject development was approved by the city under Rental100 allowing the borrower to qualify for CMHC’s MLI Flex construction program. The building includes 6,700sf of ground floor retail with 46-unit rental apartments. The subject development was approved under Rental 100 program by the City of Vancouver. The construction rate was fixed at 2.91% for an 27 month build out and the 10 year term loan for completion was forward fixed at 2.46%.